Business
Rite Foods Drags Mamuda Beverages to Court Over Products Semblance
Justice Nwite has scheduled a hearing for May 28, where the court will deliberate on Mamuda Beverages’ objection to the case and determine whether Rite Foods’ lawsuit can proceed.
Rite Foods Ltd, the manufacturer of Fearless Energy Drinks, has filed a N1.6 billion lawsuit against Mamuda Beverages Nig. Ltd, producer of Pop Power Energy Drinks, citing trademark infringement and unauthorized replication of its product design.
The lawsuit seeks both damages and an injunction to prevent Mamuda Beverages from continuing to manufacture energy drinks that bear a striking resemblance to Rite Foods’ registered products.
In the writ of summons filed on April 14 before Justice Emeka Nwite of the Federal High Court in Abuja, Rite Foods claims that Mamuda Beverages has violated its intellectual property rights by introducing a nearly identical design for its Pop Power Energy Drinks.
The plaintiff alleges that the defendant has copied its distinctive bottle design, ornamental features, and brand identity, leading to consumer confusion.
Rite Foods Ltd, stated that its Fearless Energy Drinks feature a unique 500ml plastic bottle design incorporating a lion head logo, a specific shape, and color scheme, all of which were officially registered under the Patents and Designs Act on August 24, 2020.
The plaintiff argues that Mamuda Beverages’ 330ml Pop Power Energy Drinks replicate the shape, color, and overall aesthetic of the Fearless brand, with some consumers referring to it as “small Fearless” due to its resemblance.
The lawsuit demands an order of perpetual injunction restraining Mamuda Beverages, its distributors, and associates from further infringing on Rite Foods’ trademark, including manufacturing, distributing, or selling energy drinks that imitate its design.
The plaintiff also seeks N1 billion in damages for losses incurred due to the alleged unlawful use of its registered design, as well as N60 million in legal costs.
Previous injunction Rite Foods had previously secured an injunction against Mamuda Beverages in January 2025 before Justice Inyang Ekwo, restraining the defendant from continuing the production and distribution of Pop Power Energy Drinks.
The parties later reached a settlement agreement , which required Mamuda Beverages to alter elements of its product design to ensure differentiation from Fearless Energy Drinks.
However, Rite Foods claims that Mamuda Beverages has since violated the terms of the settlement, reintroducing a “remodeled” version of the Pop Power Energy Drinks that remains substantially identical to the original design.
This alleged breach prompted the fresh lawsuit, as Rite Foods insists that court intervention is necessary to protect its exclusive rights over its registered trademark and product design.
Mamuda Beverages has responded with a preliminary objection, urging the court to dismiss the case because the lawsuit constitutes an abuse of the court process.
The defendant argues that the matter was already litigated and resolved in an earlier consent judgment, rendering the court functus officio—a legal principle preventing the relitigation of settled disputes.
Justice Nwite has scheduled a hearing for May 28, where the court will deliberate on Mamuda Beverages’ objection to the case and determine whether Rite Foods’ lawsuit can proceed.
Business
Government Can’t Run Business Effectively – Dele Oye
We all know the failed history of government being involved in business. Ajaokuta… they have blown $8 billion and have not produced one steel; they blew $3 billion on refineries rehabilitation… and nothing happened. We are not having any fuel from them
Barr Dele Oye, the former president of NACCIMA, at the Vanguard Economic Discourse 2026 edition in Lagos on Wednesday, advised the federal government to limit its role to policy support and facilitation rather than involvement in commercial business activities.
Oye, now the Chairman of Alliance for Economic Research and Ethics (AERE) , cited past failures such as the Ajaokuta Steel Company and refineries rehabilitation projects.
He said: ” We all know the failed history of government being involved in business. Ajaokuta… they have blown $8 billion and have not produced one steel; they blew $3 billion on refineries rehabilitation… and nothing happened. We are not having any fuel from them.”
Oye maintained that government lacks the capacity to run businesses effectively.
” You have no track record in running any business… you cannot be government and also be private sector,” he said.
Business
John Ternus is Apple’s incoming CEO
John Ternus, Apple’s longtime hardware boss, is taking over as CEO, becoming just the second leader since Steve Jobs departed in 2011, less than two months before he died from cancer.
• John Ternus / CNBC / Getty Images
Tim Cook’s 15-year tenure as Apple CEO comes to an end on Sept. 1, the company announced on Monday.
John Ternus, Apple’s longtime hardware boss, is taking over as CEO, becoming just the second leader since Steve Jobs departed in 2011, less than two months before he died from cancer.
CNBC reports that as Cook exits, Apple faces numerous challenges, including an intricate supply chain that’s complicated by geopolitical tensions and soaring prices for memory due to unprecedented demand from the AI buildout.
But for Ternus, perhaps the most critical aspect of his new job will be pushing the company deeper into AI, where it’s lagged many of its megacap peers.
It said that so far, Apple’s AI strategy has involved avoiding hefty capital expenditures while Microsoft, Google, Amazon and Metacommit to hundreds of billions of dollars a year in combined capex to fund new data centers and fill them with pricey AI chips.
Business
NCC, CBN launch telecom industry portal to track fraudulent phone lines
“This means banks and other financial institutions can determine whether a line is active, swapped, disconnected, or reassigned to another subscriber.”
The Nigerian Communications Commission (NCC), and the Central Bank of Nigeria ( CBN), have launched a portal that enables financial institutions to track fraudulent and suspicious phone lines across the country.
It is called the Telecoms Identity Risk Management System (TIRMS) portal , aimed at providing financial institutions with real-time visibility into the status of phone numbers used for transactions.
“The portal aggregates data on churned or recycled lines and numbers flagged for suspicious activities.
“This means banks and other financial institutions can determine whether a line is active, swapped, disconnected, or reassigned to another subscriber,” said the Executive Vice Chairman of NCC, Dr. Aminu Maida.
Speaking during the MoU signing event, Maida said that the agreement provides a structured framework for cooperation in critical areas, including payment system integrity, fraud mitigation, digital inclusion, and consumer protection.
On his part, Governor of CBN, Mr. Olayemi Cardoso, said the MoU would strengthen coordination on regulatory approvals, technical standards, and innovation initiatives, including sandbox testing.
He noted that the partnership aligns with the apex bank’s commitment to promoting a secure, resilient, and inclusive financial system.
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